Recent technological advancements have nurtured AI capabilities to serve the healthcare industry. The growing availability of big data and rise in industry partnerships is amongst the major factors that drive the AI in the healthcare market. Increasing applications of artificial intelligence in healthcare domain, including drug discovery, clinical trials, diagnosis, robot assisted surgeries, dosage error detection, healthcare information management and others boost the demand for AI in health care. In addition, rise in venture capital investments, particularly in the area of artificial intelligence contribute towards the growth of this market.
The market is segmented into the supplier’s side and the manufacturer’s side of the healthcare AI market. The supplier’s market is further segmented into the components, namely hardware, software, and technology. The various AI technologies used in healthcare include deep learning, machine learning, neural networks, natural language processing, natural language generation, and context aware processing. On the basis of end-use, market is segmented on the basis of various applications of AI in healthcare. These applications include robot assisted surgery, virtual assistants, administrative workflow assistants, connected machines, diagnosis, clinical trials, fraud detection, cybersecurity and dosage error reduction. The market is also segmented based on the regions, including North America, Europe, Asia Pacific, Latin America and MEA.
IBM Corporation; Medtronic; GENERAL ELECTRONIC COMPANY; Stryker; Koninklijke Philips N.V.; Intel Corporation; Microsoft; NVIDIA Corporation and Nuance Communications, Inc. are among few key players operating in the healthcare AI market.
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